energy and oil seem to be steady even after yday's rout. nymex at 60+. maybe as Dan said, xle is worth monitoring tonight?
oil was up altho i could not find any clues anytwhere last night ... ?

xle is probably the best choice for energy etf.
among the largest and most liquid etf's.
not just oil but gas and other energies.

i made tiny money from xle some weeks ago, no chance to get back in since.
now holding oih which is pure oil services, reacts much more with oil prices.

if u want just oil/crude, there r other etf's, incl "inverse oil etf's"!

Oil got over $60.. therefore attracted more bulls. Just technical push.. nothing fundamentals. They wanted to push this to $65. Still lots of supply in the market.

Energy index (XLE) seems to be pulling back overnight - I think it just wants to follow the general market. Profit taking perhaps but the 50ma (around 79) should act as good support.

they pushing up to orchastrate an even better plunge in the coming days??

Who knows..the MMs could be trying to create a bull trap for us. Cautiously optimistic..

True.. everyday need to be cautious..
it had been a rough 2015 though..

only bullish period i saw is 2 week in the middle of april so far for the Msia market

This post has been edited by Bonescythe: May 6 2015, 11:08 AM

Summer driving season in US (and Canada) will drive up consumption a bit but it won't be much.

The Saudi continues to produce the same amount of oil (approx 10 mln barrels/day) since last month.
So, there is really no change here.

A lot of US frackers shut off their well and put on standby (idle) after oil price drops below $65.
But if Oil goes back to $65.. guess what's going to happen, they will turn them back on because
they want to sell them at that price. So, I think there will be a lot of resistance at that level.

just took a brief look at xlw. agree that the 50d ma shd act as the near term support. will it be touched upon tonight? interesting scenario. thanks, will surely observe it before open this evening.

not sure if we can take any notice of it or not? from marketwatch >>

... Oil futures rose in electronic trading late Tuesday after the American Petroleum Institute reported that crude supplies fell 1.5 million barrels for the week ended May 1, according to sources. A Platts survey of analysts forecast a climb of 1 million barrels. "The draw in crude breaks the streak of builds and adds credence to the argument that U.S. output is peaking," said Phil Flynn, senior market analyst at Price Futures Group. "Demand also looks good." Following the data, June crude CLM5, +0.91% was at $60.77 a barrel in electronic trading, up from the $60.40 settlement on Nymex. The more closely watched Energy Information Administration report is due Wednesday.

This post has been edited by mikehwy: May 6 2015, 11:22 AM

Yes, let's wait and see what EIA report says. Sometimes API says ... bullish (more consumption) but EIA says bearish (or less drawn down).

yeah, especially those recent reports about bubbles and 'over-priced' SP and Nasdaq were so contradicting. some even claims soon we shall see 'death of the bulls', sell in May and keep ypour cash' etc etc ....making me more drousy about my personal views .... Emm, confusing it is!

dows furutre is at +70 now. barring any 'mishap' of reports, it shd easily hit +100 ....

This post has been edited by mikehwy: May 6 2015, 11:47 AM

i am ready for the traps.

now 61.58.

Everywhere is green and everything seems moving well now. Dows shd be ready for a bounce? ...other than dead cats most things will bounce when they drop heavy ?

This post has been edited by mikehwy: May 6 2015, 05:29 PM

usd weak, oil up, europe up, futures up.
should be recovery like 2 sessions ago.
so, it's a rollercoaster... again.

oil approaching 62, oil stocks in for a rally, i expect.
fxi... after diving 3.6% last night, it should lose another 2-3% tonight.
high time china stocks cool, bubble getting big...

This post has been edited by AVFAN: May 6 2015, 05:39 PM

Nymex touching 62 soon. Wooo....

wow ... a poor job creation simply wipe off all dya's TA and god news on oil etc etc .... RED !

Trend still intact. How weird is that. For all the down days there is still not a trace of downturn... weird. We have an official sideways trend.

oil is good, 62.

i m about to close a position for groceries this week.



but aapl under anti-trust probe...

and yellen remarks not too good.

looks like no rally afterall....

EIA says inventory down.. so it is bullish for oil for this week.
XLE holding steady so far...

FXI needs to dive more towards the 50ma line.. big gap needs to be filled.
China stocks have virtually double since last year. Need more pull back..

Aunty Yellen said US equities value are high..opps sounds like that's sell signal to me
We haven't seen a 5-10% pull back for a while.. so it I think it's time.

Holding cash right now. Go ahead and let more bears out!

You guys are just weird. Groceries.

This post has been edited by wodenus: May 6 2015, 11:51 PM